Question: answer= 130%, 256% please show CLEARLY all working out 4. You borrow $200 from a payday lending company and pay $10 interest for two weeks.

answer= 130%, 256% please show CLEARLY all working out 4. You borrowanswer= 130%, 256%

please show CLEARLY all working out

4. You borrow $200 from a payday lending company and pay $10 interest for two weeks. What is the nominal annual interest rate? What is the EAR

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